New York, United States, June 01, 2022 (GLOBE NEWSWIRE) -- The coronary stents are the expandable tubular metallic devices which are generally inserted into the coronary arteries clogged because of underlying atherosclerosis disease. Based on the type, the Drug-Eluting Stents (DES) held the most significant share of around 85.4% of the total market in 2020 with an overall value of around USD 6.95 Billion and is prevised to grow at a CAGR of 8.77% throughout the forecasted period. North America dominated the total coronary stents market at around 38.1%in 2020 and is estimated to grow with a robust CAGR throughout the foreseeable future. On the other hand, Asia Pacific is the fastest-growing region with the highest CAGR (compound annual growth rate) of 5.8%throughout the forecasted period.
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The segmentation mapping of the report published by SMR on the Coronary Stents Market is as follows:
Based on Type:
- Bare-Metal Stents
- Drug-Eluting Stents
- Bioabsorbable Stents
Based on Mode of Delivery:
- Balloon-Expandable Stents
- Self-Expanding Stents
Based on End-User:
- Hospitals
- Cardiac Centers
- Ambulatory Surgical Centers (ASCs)
Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
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| Report Coverage | Details | |
| Forecast Period | 2020-2028 | |
| Forecast Period 2021 to 2028 CAGR | 4.78% | |
| 2028 Value Projection | $11.237 billion | |
| Base Year | 2020 | |
| Market Size in 2020 | 8.171 Billion | |
| Historical Data for | 2015 - 2019 | |
| No. of Pages | 135 | |
| Companies | Medtronic plc,Biosensors International Group Limited,Abbott,Boston Scientific Corporation,BIOTRONIK SE & Co. KG,CookMedical,B. Braun MelsungenAG,TerumoCorporation,VascularConcepts,STENTYSSA,MicroPort Scientific Corporation,Meril Life Sciences Pvt. Ltd,Translumina | |
| Leading Segment Based on Type | Drug-Eluting Stents (DE) | |
| Leading Region | North America | |
| Segments covered | Based on Type,Based on Mode of Delivery,Based on End-User: | |
| Growth Drivers | Rising Cases of Cardiovascular Diseases, Growing Number of Elder Population, Adoption of Minimally Invasive Surgeries Procedures, Preference of Stent Technology | |
The coronary Stents Market is predicted to reach a market value of USD 11.237 billion by 2028 from USD 8.171 Billion in 2020, at a CAGR of 4.78 % during the forecasted period. The rise in the rate of cardiovascular diseases such as stroke and heart attacks, and the continuous increase of the elderly population worldwide, are the primary reasons that are fostering the market growth. Moreover, the rising use of Tobacco, Alcohol, and Stress is also a vital reason behind the rising occurrence of heart-related conditions and disorders, thereby driving the expansion of market growth. Furthermore, the spike in the number of percutaneous coronary intervention (PCI) methods over the last few years has also contributed immensely in terms of enhancing the overall market growth rate.
By Type, the Drug-Eluting Stents (DES) segment held the largest share of the Coronary StentsMarket.
Based on the type, the Drug-Eluting Stents (DES) held the most significant share of around 85.4% of the total marketin 2020 with an overall value of around USD 6.95 Billion and is prevised to grow at a CAGR of 8.77% throughout the forecasted period. Crucial factors like an abrupt rise inthe adoption of a sedentary lifestyle and the widespread use of Drug-Eluting Stents (DES) in the geriatric population are the key reasons driving this market's growth significantly.
By Mode of Delivery, the Balloon-Expandable Stents segment possessed the highest share of the Coronary Stentsmarket.
In terms of Mode of Delivery, the Balloon-Expandable Stents segment is anticipated to dominate the market during the forecasted period owing to the greater rate of stent utilization, and rise in the research activities for further enhancement of technology, and growing regulatory approvals across the globe.
Based on End-User, the Hospitals dominated the entire Coronary StentsMarket.
By End Users, the Hospitals segment possessed the maximum proportion of the market share. It is primarily due to the effective and adequate utilization of coronary stents in hospitals. For patients without health insurance, the hospital expenditure on coronary stents ranges between US$ 11,000 to US$ 41,000, depending on the type of stent and the duration of hospital stay.
North America possessed the largestproportion of the Coronary StentsMarket share.
North America dominated the total coronary stents market at around 38.1% in 2020 and is estimated to grow with a robust CAGR throughout the foreseeable future. Every year, around 647,000 people in the United States die from heart disease, thus making it one of the crucial causes of death. One out of every four deaths happens due to cardiac diseases. According to W.H.O., Cardiovascular diseases resulted in the death of almost 30.47 million people in the United States in 2018. On the other hand,Asia Pacific is the fastest-growing region with the highest CAGR (compound annual growth rate) of 5.8% throughout the forecasted period.
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The leading players that are covered in the Global Coronary Stents Market report are:
- Medtronic plc
- Biosensors International Group Limited
- Abbott
- Boston Scientific Corporation
- BIOTRONIK SE & Co. KG
- Cook Medical
- B. Braun Melsungen AG
- Terumo Corporation
- Vascular Concepts
- STENTYS SA
- MicroPort Scientific Corporation
- Meril Life Sciences Pvt. Ltd
- Translumina
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Global Coronary Stents Market: Recent Developments
- On October 1, 2021, Medtronic Resolute Onyx Drug-Eluting Stent was the first to receive One Month DAPT indication. The Resolute Onyx DES is the one and the only DES (Drug Eluting Stent)that is proven to be highly effective, safe, and reliable in the United States. Resolute Onyx DES, along with its biocompatible polymer and stent design, is highly effective for patients who are suffering from various cardiac diseases.
- Inthe month of April 2021, Abbott declared the introduction of the coronary imaging platform Ultreon 1.0 Software which is powered by Artificial Intelligence in Europe. The software has been introduced with the aim of improvising the detection of calcium-based blockages and measuring vessel diameter during coronary stenting procedures.
- In the month of August 2021, SINOMED, a leading international medical device corporation, declared the 1st commercial implantation of the HT Supreme Drug-Eluting Stent (DES) at the University Hospital Galway in collaboration with the National University of Ireland Galway, thereby marking the start of the European launch.
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